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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $233.94
- 4 Days on Market
- MLS # : SW20249879
- Updated Date : 12/03/2020 at 14:34
CONSTRUCTION
- Beds : 5
- Floor Size : 2,351 sqft
- Baths : 3 full
Listing Agent
Redfin Corporation
Listing Agent's Description
This is the home you have been waiting for! Absolutely Gorgeous 5 bedroom, 3 bathroom, Pool, Spa, and 3 car garage. No HOA, and Low Taxes. This home has it ALL plus Brand NEW exterior paint, Brand NEW interior paint, Brand NEW carpet and NEW HVAC system. The floor plan is very open and inviting. You enter into the formal living room and dining room with vaulted ceilings, plantation shutters, and lots of newer windows that are overlooking the beautiful pool and spa. The kitchen is upgraded with granite counter tops, breakfast bar, and stainless steel appliances. The Kitchen is open to the family. The family room has beautiful tile flooring and a fireplace. Downstairs also features a bedroom, full bathroom, and laundry room. Upstairs are 4 bedrooms, including the large master suite. One of the bedrooms is large enough for 2 children to share or to be utilized as a bonus/game room. The backyard is just as beautiful and private, with no neighbors looking into your yard. The Pool/Spa has newer plaster and tile, with a baja shelf and raised spa. The backyard is perfect for family gatherings and summer BBQs. There is plenty of patio space and grass area. The 3rd car garage also has pull through access directly to the back yard. This home is located in a great Temecula location. Close to award winning Temecula Unified Schools, shopping, restaurants, entertainment, and easy access to the 15 fwy. Schedule your private showing before it's gone! Please remember to remove your shoes!
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MARKET HIGHLIGHTS
- The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
- Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
- As part of Southern California area, Inland Empire market inherits all the benefits from the area.
- Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
- Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
- Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Serena Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Serena Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,380 |
| EXPENSES | Loan Payment | -$2,029 |
| Property Tax | -$588 | |
| Property Insurance | -$84 | |
| Property Management Fees | -$140 | |
|
CASH FLOW
-$462
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$549,999
PROJECTED PRICE
$2,380
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.95% |
| Appreciation Year (1-5) | 5.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.35% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$2,029
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $137,500 |
| Loan Amount | $412,499 |
1.67
YEARS SAVED
$6,892
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,380
LIST RENT -
$1.01
LIST RENT PER SQFT
-
$2,375
COMP ESTIMATED VALUE -
$1.01
COMP AVG. RENT PER SQFT
Comps Range
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- $2,100
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LEASED 04/09/20- Rent
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- $2,300
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-
31675 Leigh Lane Temecula, CA 4
- 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1990
LEASED 07/11/20- Rent
- Rent Per SQFT
- $2,400
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-
31052 Wellington Circle Temecula, CA 5
- 5 beds 3 baths ∙ 2,291 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,291 Sqft ∙ Built 1988
LEASED 09/16/20- Rent
- Rent Per SQFT
- $2,400
- $1.05
PROPERTY LISTING DETAILS
Redfin Corporation
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: SW20249879
Last Updated: 12/03/2020
